“Refining Catalysts Market Report 2019-2023” helps the consumer to take business decisions and to understand strategies of major players in the industry. The report also calls for market-determined results deriving feasibility survey for consumer needs. Global Refining Catalysts Market Report ensures qualified and verifiable aspects of market data operating in the real-time scenario. The analytical studies are conducted ensuring consumer needs with a complete understanding of market capacities in the real-time scenario.
Top-Listed Players in Refining Catalysts Market Research Report 2019-2023:
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Refining Catalysts market reports provide a comprehensive overview of the worldwide market size and share. Refining Catalysts market data reports also provide a 5-year historical, forecast for the sector, and include data on social-economic data of global. Key stakeholders can consider statistics, tables & figures mentioned in this report for strategic planning which lead to the success of the organization.
Overview of Refining Catalysts Market Report:
The global refining catalysts market is valued at USD 3.84 billion in 2018 and is projected to reach USD 4.59 billion by 2023, at a CAGR of 3.17% during the forecast period, majorly driven by the increasing investments in refineries. Refining catalysts are the substances, which accelerate the rate of chemical reaction without undergoing any permanent chemical change. They are primarily used by petroleum refineries to improve the output quantity by enhancing the operational efficiency during the petroleum refining process. These catalysts play a vital role in sufficing the fuel standards, emission standards, and improving selectivity and conversion.
Increasing Investments in Refineries Driving the Market
The market for refining catalysts has significantly benefitted from the increasing investments in oil refineries. For instance, Indian Oil has set a budget of INR 1.8 trillion in order to expand its refineries and expand businesses in the next 5-7 years. Petrol Corp, one of the leading Asian oil companies, invested USD 3.5 billion in order to expand its refinery in Malaysia by 2020. This expansion is estimated to add 90,000 barrels per day in its operations in Malaysia. Such investments and acquisitions of refineries, along with the increasing demand of fuel, are expected to increase the demand for refining catalysts.
Fluid Catalytic Cracking Catalysts the Dominating Type
The fluid catalytic cracking (FCC) process plays a crucial role in refineries while producing lighter products from crude oil. FCC unit helps in converting a variety of feed types, such as cracked gas oil, gas oil, deasphalted gas oils, vacuum/atmospheric resins, and others, into lighter and high value products, such as diesel oil, jet fuel, LPG, kerosene, and gasoline. Currently, there are more than 500 FCC units in the world. Around 35% of the total gasoline and 50% of the total transportation fuel is produced through FCC processing.
Asia-Pacific Dominating the Refining Catalysts Market
Asia-Pacific is estimated to be the largest market for refining catalysts, in terms of revenue, in 2016. China is a key consumer of refinery catalysts in the Asia-Pacific region. Positive growth from automotive industry in many countries, along with the growing investments for refineries, contributed to the growth of the refinery catalyst market in this region.
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To understand the impact of various product type on the marketAnalyzing various perspectives of the market with the help of Porter’s five forces analysisTo understand the dominating product type and end-user industry in the marketCountries expected to witness the fastest growth during the forecast periodIdentify the latest developments, market shares, and strategies employed by the major market players3-month analyst support, along with the Market Estimate sheet in excel
Valuable Points from Refining Catalysts Market Research Report 2019-2023:
- A complete background analysis, which includes a valuation of the parental Refining Catalysts Market.
- Significant changes in Market dynamics.
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- Current, Historical, and projected size of the Refining Catalysts Market from the viewpoint of both value and volume.
- Reporting and assessment of recent industry developments.
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Highlights of the following key factors:
- Business description –A detailed description of the company’s operations and business divisions.
- Corporate strategy –Analyst’s summarization of the company’s business strategy.
- SWOT Analysis –A detailed analysis of the company’s strengths, weakness, opportunities, and threats.
- Company history –Progression of key events associated with the company.
- Major products and services –A list of major products, services, and brands of the company.
- Key competitors –A list of key competitors to the company.
- Important locations and subsidiaries –A list and contact details of key locations and subsidiaries of the company.
- Detailed financial ratios for the past five years –The latest financial ratios derived from the annual financial statements published by the company with 5 years history.
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